Bitcoin traders will have to be data-dependent, just like the central bank. Original
More Volatility Ahead for Bitcoin as Federal Reserve Keeps Quiet
Day: August 31, 2022
How cryptocurrency could help tackle global income inequality
Over the past few decades, the inequality of wealth distribution globally has become all the starker. For example, as of 2022, the top 10% of Americans hold nearly 70% of US wealth. This means that 90% of the country only takes home 30% of the wealth. South Africa is another example, with the top 10% taking home 65% of the wealth. Many citizens also lack access to general banking as well as high-class financial services (i.e., services limited to accredited investors) that are readily available to the more well-off residents.…
Bitcoin Trades Above $20,000, Has The Fed Failed Again?
Bitcoin has been moving sideways over the past week in a tight range, but the cryptocurrency might experience volatility as bulls and bears fight over the monthly candle close. The benchmark has been unable to recover its gains from last week and continues to trade in the red over high timeframes. At the time of writing, Bitcoin (BTC) trades at $20,300 with sideways movement in 24 hours and a 6% loss over the past week. Along with Solana (8%) and Dogecoin (8%), Bitcoin is the worst performer in the crypto…
VeChain Pulled In Sideways Motion As VET Price Faces Rejection At $0.0247
According to VeChain pricing analysis, VET prices have been moving sideways over the last few days. VET prices moving sideways as seen in the past few days VeChain price fluctuating in the $0.02 and $0.027 range VET price is down by 0.5% Nevertheless, because the prices have been trading above the crucial support level of $0.02412, there has been a minor bullish bias in the prices. At $0.02474, the prices are now being rejected. As of this writing, VET is trading at $$0.02491, down 0.5 percent in the last 24…
First Mover Americas: A Bleak Month for Crypto as Bitcoin Slides, Ether Stalls and Solana Tanks
The latest price moves in bitcoin (BTC) and crypto markets in context for August 31, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Russian PM Says Digital Assets Are ‘Safe Alternative’ in Foreign Trade, Urges for Ruble Payments – Finance Bitcoin News
Russian Prime Minister Mikhail Mishustin has praised digital assets as a payment instrument that could strengthen Russia’s financial independence. The top government official also called for increasing the use of the ruble for international settlements. Head of Russian Government Sees Digital Assets as Tool Ensuring ‘Uninterrupted Payments’ Digital assets can become an alternative to traditional settlements and facilitate payments for imports and exports, the prime minister of Russia has recently remarked. Quoted by RBC Crypto news outlet, Mikhail Mishustin made the comment during a “strategic session on the development of…
Banning Bitcoin mining: Could it be a mistake?
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Adelle Nazarian and Rob Luna provide insight on Bitcoin and the stock market on ‘Making Money.’ #FoxBusiness #makingmoney Subscribe to Fox Business! Watch more Fox Business Video: Watch Fox Business Network Live: FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television,…
Bitcoin Miners’ Profitability May Narrow as Mining Difficulty Hits Second-Biggest Increase This Year
The hashprice, a metric coined by mining services firm Luxor Technologies that measures revenue per terahash of computing power, has dropped dramatically in the last month and particularly in the past few hours, following the difficulty adjustment. In the month of August, revenue in U.S. dollars per terahash dropped by about 24%, whereas on Wednesday, the hashprice fell by 8%. Source BitcoinDifficultyHitsIncreaseMinersMiningNarrowProfitabilitySecondBiggestYear CryptoX Portal
Eurozone hits record inflation of 9.1% amid gas and energy crisis
August marks the ninth consecutive month of rising inflation for the Eurozone at 9.1%. In July, the official inflation numbers landed at 8.9%. The Eurozone consists of 19 countries, including Germany, France and Belgium. This comes as the European Union (EU) faces a massive energy and gas crisis, largely as a result of the ongoing conflict in Ukraine. Current prices for daily necessities such as food, gas and electricity have soared across the continent. Over the last month, energy prices made up the largest price push, up by an annual…
Crypto volatility may soon recede despite high correlation with TradFi
After forging a minor recovery of sorts earlier this month, the crypto market has returned to exhibiting high levels of volatility over the past two weeks. This trend has pervaded the market since late last year, with the total market capitalization of the digital asset industry having dipped from an all-time high of $3 trillion back in November 2021 to its current levels of $1.08 trillion, representing a drop of over 65%. This then begs the question: “How long is this volatility going to last?” especially since the macroeconomic conditions…